ICYMIM: May 21, 2018
Source One's series for keeping up with the most recent highlights in procurement, strategic sourcing, and supply chain news week-to-week. Check in with us every Monday to stay up to date with the latest supply management news.
Sean Harley, Spend Matters, 5/16/2018
Procurement professionals understand the importance of supplier relationship management. Many organizations are discussing the potential benefit of investing in enhanced programs. Few, however, follow through on these discussions. The readily apparent ROI of chasing annual savings targets tends to take precedence. In the first installment of an upcoming series, Harley outlines a number of challenges facing today's Procurement departments. He then describes the way a more nuanced approach to SRM could provide the answer. For example, he suggests that closer, more strategic collaboration with suppliers can provide the innovative technologies and process improvements Procurement is eager for.
Procurement professionals understand the importance of supplier relationship management. Many organizations are discussing the potential benefit of investing in enhanced programs. Few, however, follow through on these discussions. The readily apparent ROI of chasing annual savings targets tends to take precedence. In the first installment of an upcoming series, Harley outlines a number of challenges facing today's Procurement departments. He then describes the way a more nuanced approach to SRM could provide the answer. For example, he suggests that closer, more strategic collaboration with suppliers can provide the innovative technologies and process improvements Procurement is eager for.
Should Procurement Leaders Apologize?
Charles Dominick, Next Level Purchasing Association, 5/16/2018
It's no secret that authority figures often struggle with apologies. To many, Dominick suggests, they're perceived as a sign of weakness. He challenges this idea. "If you even think that apologizing might be a sign of weakness," he writes, "then you are already a weak human being." Apologies are invalid and insincere when they're not supported by a desire to actually fix the problem in question. Equivocating and casting blame tend to only make matters worse. The best Procurement leaders are courageous people. They're not afraid to innovate, and they're not afraid to fail trying. They shouldn't be afraid to admit when they're wrong.
Companies are Investing in AI and Automation to Boost Talent Recruitment and Retention
Sydney Lazarus, Spend Matters, 5/16/2018
Randstad Sourceright recently conducted a survey of over 800 talent management professionals. Over half, they found, believe that AI will soon make their hiring processes more efficient and consistent. One hope is that artificial intelligence will help make the hiring and recruiting process seem less impersonal. A well-designed chatbot can engage the applicant directly while freeing up time for hiring managers to reach out to the most promising candidates. It might sound ironic to suggest that AI could make a process feel more personal, but 43% of respondents suggested they had already begun to feel this effect.
Companies are Investing in AI and Automation to Boost Talent Recruitment and Retention
Sydney Lazarus, Spend Matters, 5/16/2018
Randstad Sourceright recently conducted a survey of over 800 talent management professionals. Over half, they found, believe that AI will soon make their hiring processes more efficient and consistent. One hope is that artificial intelligence will help make the hiring and recruiting process seem less impersonal. A well-designed chatbot can engage the applicant directly while freeing up time for hiring managers to reach out to the most promising candidates. It might sound ironic to suggest that AI could make a process feel more personal, but 43% of respondents suggested they had already begun to feel this effect.
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